Maybe I'm missing something, but how is +1 Base Damage on par or better than +10% Attack Bonus? They both require 100 conversion to attain. My overall attack is always higher with a Human Berserker over an Orc Berserker.

Orc's bonus damage stacks. It's +1 for the first, +2 for the second, +3 for the third, and so on. That said, Orcs are usually worse than humans unless you can convert a whole buncha things on a class that gives +attack%. Or if you have a conversion stone.

Orcs are overpowered at the moment and should probably have their conversion cost increased to somewhere around 120. Converting three glyphs or a Sensation Stone (locker item) grants Orcs an immediate, permanent, zero inventory cost +6 base damage (and converting just three more glyphs will grant an additional +15 base damage). Humans are generally the better of the two for any class that doesn't get damage bonuses, but for those that do (Berserker, Warlord, Thief, Rogue, Priest) the Orc is indisputably the better choice. Orcs can even make wicked Wizards, whose damage penalty makes Human conversion bonuses very attractive, because PISORF relies on base damage and at 3 MP can be devastatingly powerful.